TECS Fund Description

TECS Factset Analytics Insight

TECS offers investors a means of playing out their bearish bets on the technology sector. The fund provides -3x exposure to the S&P Technology Select Sector Index—a market-cap-weighted index of US tech companies selected from the S&P 500. TECS tracks the exact same index as XLK—the Technology Select Sector SPDR ETF. That makes it a narrow bet against the highly concentrated tech sector, with Microsoft, Apple, and Alphabet comprising a huge fraction of the index. Unlike XLK, TECS is designed to be a short-term trading vehicle—not a long-term investment. TECS rebalances its exposure on a daily basis. As a result, the fund's long-term returns are difficult to predict due to compounding and path dependency. As a result, most traders will be willing to overlook the fund's steep fee. TECS trades reasonably well, with decent daily volume and modest spreads.

TECS Factset Analytics Block Liquidity

This measurement shows how easy it is to trade a $1 million USD block of TECS. TECS is rated a 5 out of 5.

TECS Tradability

Avg. Daily Share Volume
717,658

Average Daily $ Volume
$10.35M

Median Daily Share Volume
508,933

Median Daily Volume ($)
$7.80M

Average Spread (%)
0.07%

Average Spread ($)
$0.01

Median Premium / Discount (12 Mo)
-0.01%

Max. Premium / Discount (12 Mo)
0.28% / -0.92%

Impediment to Creations
None

Market Hours Overlap
0.00%

Creation Unit Size (Shares)
50,000

Creation Unit/Day (45 Day Average)
10.18

Creation Unit Cost (%)
0.00%

Underlying Volume / Unit
--

Open Interest on ETF Options
7,320

Net Asset Value (Yesterday)
$15.65

ETF.com Implied Liquidity
5

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